The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES John Thomas, Chair Jan Ward, Director Stacy McDaniel, Vice Chair Patrice Wong, Director Diane Arnold, Director Sabrina Sanders, Director Russell Doyle, Director REGULAR MEETING MINUTES ROLL CALL Commissioners Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Present: Thomas Commissioners Jan Ward, Patrice Wong and Stacy McDaniel Excused: Staff present: Vice President Patrick Ure; Deputy City Attorney Rich Anthony; Alem Hagos, Grant Administration Division Officer; Barbi Clark, Development Project Manager; Teresa Cerda, Community Development Specialist; Elizabeth Salcedo, Assistant Admin. Analyst; and Heather Vega, Secretary. FLAG SALUTE Director Sanders led the flag salute. PRESIDENT'S REPORT Vice President Ure filled in for President Bodek, who was absent. Vice President Ure announced the groundbreaking event for the Immanuel Senior Housing project scheduled for Friday, March 6 at 11AM. He also mentioned that staff is working on Requests for Proposals (RFP's) for six sites. Some will be targeted for rental developments, while others will be for homeownership projects. Page 1 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Sanders asked if local developers would have a preference in the selection process. Vice President Ure responded that prior affordable housing experience would be key in the selection process. Discussion ensued. PUBLIC HEARINGS 1. 15-001CI Recommendation to: 1. Accept public input on a Substantial Amendment to the Fiscal Year 2014-2015 Annual Action Plan; and 2. Recommend that the City Council approve the Substantial Amendment to the Fiscal Year 2014-2015 Annual Action Plan. Chair Thomas read the item. Vice President Ure introduced Alem Hagos and Elizabeth Salcedo. Staff Hagos spoke. Staff Salcedo presented the staff report. Discussion ensued. There was no public comment. Staff Hagos explained the public outreach process. A motion was made by Director Arnold, seconded by Director Sanders, to approve the recommendation. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel REGULAR AGENDA Page 2 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 2. 15-002CI Recommendation to receive and file the minutes of the regular board meeting of December 17, 2014. A motion was made by Director Arnold, seconded by Director Sanders, to receive and file the minutes. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel 3. 15-003CI Recommendation to: 1. Adopt the attached Resolution establishing the Housing Action Plan Committee; and 2. Approve the appointment of three Board Members to the Housing Action Plan Committee. Vice President Ure presented the staff report. Director Doyle spoke. Chair Thomas spoke. Discussion ensued. Directors Arnold, Sanders and Doyle all volunteered to serve on the HAP Committee. Discussion ensued. A motion was made by Director Arnold, seconded by Director Doyle, to approve the recommendation. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Page 3 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel Diane Arnold, Sabrina Sanders and Russell Doyle were appointed to the Committee, with John Thomas serving as alternate. Sabrina Sanders was appointed Chair, and Diane Arnold was appointed Vice Chair. 4. 15-004CI Recommendation to adopt, or amend and adopt, the attached Financial Assistance Policy regarding LBCIC financial assistance to developers or other entities seeking financial assistance for the develoment of affordable housing. Vice President Ure presented the staff report. Director Doyle spoke. Vice President Ure explained the need for a policy. Chair Thomas spoke. Discussion ensued. Director Sanders made a motion to approve the item with the following ammendment: Reverse the order of 1 and 2 as they are currently listed in the draft version of the policy. A motion was made by Director Sanders, seconded by Director Arnold, to approve the recommendation. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel 5. 15-005CI Recommendation to: Page 4 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 1. Approve a modification to the resale restrictions for all Coronado borrowers to waive the requirement to sell to qualified moderate-income buyers during the first seven years of ownership, allow sales to market rate buyers during the remainder of the initial seven year period, accelerate the start date of the required contingent deferred interest to the time of sale; and 2. Authorize the President to execute any and all documents necessary to implement the modification. Vice President Ure presented the staff report. Director Doyle spoke. Discussion ensued. Deputy City Attorney Anthony spoke. Discussion ensued. A motion was made by Director Arnold, seconded by Director Doyle, to approve the recommendation. The motion carried by the following vote: Yes: 3 - Diane L. Arnold, Russell Doyle and John Thomas Abstain: 1 - Sabrina Sanders Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel 6. 15-006CI Recommendation to approve a CalHome loan in the amount of $57,000 to Brian Alvarado and Rocio Tamayo for the rehabilitation of the property at 299 W. 68th Street, and authorize the President to approve change orders within the approved budget. Vice President Ure presented the staff report. It was noted that the contractor signed in the wrong place on the work write-up; this will need to be corrected. Director Doyle spoke. Vice President Ure spoke. Page 5 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES A motion was made by Director Arnold, seconded by Director Sanders, to approve the recommendation. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel 7. 15-007CI Recommendation to approve a CalHome loan in the amount of $57,000 to Kellee Pointer for the rehabilitation of the property at 6711 Harbor Ave., and authorize the President to approve change orders within the approved budget. Vice President Ure presented the staff report. Director Doyle spoke. Staff Cerda spoke. Vice President Ure spoke. A motion was made by Director Arnold, seconded by Director Doyle, to approve the recommendation. The motion carried by the following vote: Yes: 4 - Diane L. Arnold, Sabrina Sanders, Russell Doyle and John Thomas Excused: 3 - Jan Ward, Patrice Wong and Stacy McDaniel COMMENTS BY LBCIC Director Sanders spoke. Chair Thomas spoke. Discussion ensued. PUBLIC PARTICIPATION Page 6 of 7 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 18, 2015 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES No members of the public were present. ADJOURNMENT The meeting was adjourned at 6:02 PM. Respectfully submitted, _________________________ AMY J. BODEK, PRESIDENT Approved by: _________________________ JOHN THOMAS, CHAIR Page 7 of 7